May 15, 2023
Three Keys to Performing Successfully in Value-Based Care
Author Peter Drucker says “We now accept that learning is a lifelong process of keeping abreast of change “.
And as change would have it, healthcare is:
- Adopting Patient Centered Medical Home
- Adapting Population Health Management
- Measuring performance and outcomes
- Moving to financial risk models
These are fundamental changes that affect the patient encounter, the practice workflow, patient outcomes and financial health. We can no longer depend on patient volume alone, order a lot of tests because we can, take a patient’s blood pressure and check the box with a 140/90 recording. Value-based and performance-based care has arrived and will continue to flourish. We must become better stewards of our time and resources in addition to the patient wishes, outcomes and experience.
In order to excel in the realm of value-based and performance-based models, healthcare providers need to comprehend:
- It is no longer just about contract participation.
- Risk-adjusted financial performance in participating contracts.
- Group Performance.
In summary, with fee schedules frozen, patient volumes flat and more focus on quality metrics and patient experience, understanding of and focus on these concepts is extremely important to your success and to the success of McLaren Physician Partners and McLaren’s population health strategy.
For comments or for more information, please contact Dr. Lawrence Cowsill, Senior Medical Director, at (248) 935-6806 or lawrence.cowsill@mclaren.org.